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The Evolution Of The Term 'Washington Consensus'

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Author Info
John Marangos

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Abstract

The term 'Washington Consensus', as Williamson conceived it, was the lowest common denominator of the reforms that he judged 'Washington' could agree were required in Latin America. The term has evolved to denote a different set of policies from those initially conceived. This paper investigates the different versions and interpretations of this controversial term and assesses whether the term itself is suitable and viable or slowly becoming irrelevant and obsolete. Most importantly, the evolution of the term mirrors the evolution of economic thought on economic development for nearly the last two decades. Copyright © 2009 The Author. Journal compilation © 2009 Blackwell Publishing Ltd.

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Publisher Info
Article provided by Blackwell Publishing in its journal Journal of Economic Surveys.

Volume (Year): 23 (2009)
Issue (Month): 2 (04)
Pages: 350-384
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Handle: RePEc:bla:jecsur:v:23:y:2009:i:2:p:350-384

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This page was last updated on 2009-11-25.

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